Netflix Inc (NFLX) SEC Filing 10-Q Quarterly Report for the period ending Wednesday, June 30, 2021

Netflix Inc

CIK: 1065280 Ticker: NFLX

Exhibit 99.1
July 20, 2021

Fellow shareholders,

In Q2, revenue increased 19% year over year to $7.3 billion, while operating income rose 36% year over year to $1.8 billion. We finished the quarter with over 209m paid memberships, slightly ahead of our forecast. COVID has created some lumpiness in our membership growth (higher growth in 2020, slower growth this year), which is working its way through. We continue to focus on improving our service for our members and bringing them the best stories from around the world. Our summary results and forecast for Q3 are below.
(in millions except per share data)Q2'20Q3'20Q4'20Q1'21Q2'21Q3'21 Forecast
Revenue$6,148 $6,436 $6,644 $7,163 $7,342 $7,477 
Y/Y % Growth24.9 %22.7 %21.5 %24.2 %19.4 %16.2 %
Operating Income$1,358 $1,315 $954 $1,960 $1,848 $1,550 
Operating Margin22.1 %20.4 %14.4 %27.4 %25.2 %20.7 %
Net Income$720 $790 $542 $1,707 $1,353 $1,158 
Diluted EPS$1.59 $1.74 $1.19 $3.75 $2.97 $2.55 
Global Streaming Paid Memberships192.95 195.15 203.66 207.64 209.18 212.68 
Y/Y % Growth27.3 %23.3 %21.9 %13.6 %8.4 %9.0 %
Global Streaming Paid Net Additions10.09 2.20 8.51 3.98 1.54 3.50 
Net cash provided by (used in) operating activities$1,041 $1,264 $(138)$777 $(64)
Free Cash Flow*$899 $1,145 $(284)$692 $(175)
Shares (FD)453.9 455.1 455.3 455.6 455.1 
Note: Figures are consolidated, including DVD.
* Free cash flow represents Net Cash provided by (used in) operating activities less purchases of property and equipment and change in other assets.


The following information was filed by Netflix Inc (NFLX) on Tuesday, July 20, 2021 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Netflix Inc's 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Cover Page
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Operations
Consolidated Statements Of Stockholders' Equity
Balance Sheet Components
Balance Sheet Components (Tables)
Balance Sheet Components - Components Of Content Assets (Details)
Balance Sheet Components - Leases (Details)
Balance Sheet Components - Other Current Assets (Details)
Balance Sheet Components - Property And Equipment (Details)
Basis Of Presentation And Summary Of Significant Accounting Policies
Basis Of Presentation And Summary Of Significant Accounting Policies (Policies)
Cash, Cash Equivalents And Restricted Cash
Cash, Cash Equivalents And Restricted Cash (Details)
Cash, Cash Equivalents And Restricted Cash (Tables)
Commitments And Contingencies
Commitments And Contingencies (Tables)
Commitments And Contingencies - Expected Timing Of Payments (Details)
Commitments And Contingencies - Legal Proceedings (Details)
Commitments And Contingencies - Streaming Content (Details)
Debt (Tables)
Debt - Maturities (Details)
Debt - Narrative (Details)
Debt - Revolving Line Of Credit (Details)
Debt - Summary Of Long-Term Debt (Details)
Earnings Per Share
Earnings Per Share (Tables)
Earnings Per Share - Antidilutive Shares (Details)
Earnings Per Share - Calculation Of Eps (Details)
Income Taxes
Income Taxes (Details)
Income Taxes (Tables)
Revenue Recognition
Revenue Recognition (Tables)
Revenue Recognition - Additional Information (Details)
Revenue Recognition - Revenue And Membership Information (Details)
Segment And Geographic Information
Segment And Geographic Information (Tables)
Segment And Geographic Information - Long-Lived Assets By Geographical Areas (Details)
Segment And Geographic Information - Narrative (Details)
Stockholders' Equity
Stockholders' Equity (Tables)
Stockholders' Equity - Activity Related To Stock Option Plans (Details)
Stockholders' Equity - Amounts Related To Option Exercises (Details)
Stockholders' Equity - Assumptions Used To Value Stock Options (Details)
Stockholders' Equity - Stock Repurchases (Details)
Stockholders' Equity Stockholders' Equity - Stock Option Plan Narrative (Details)
Ticker: NFLX
CIK: 1065280
Form Type: 10-Q Quarterly Report
Accession Number: 0001065280-21-000250
Submitted to the SEC: Thu Jul 22 2021 4:02:47 PM EST
Accepted by the SEC: Thu Jul 22 2021
Period: Wednesday, June 30, 2021
Industry: Video Tape Rental

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